Why Lockheed Martin Fell on a Good Day for the Markets
Shares of U.S. defense contractor Lockheed Martin (NYSE: LMT) fell 4% on Monday, even as the S&P 500 (SNPINDEX: ^GSPC) was up a strong 0.94% on the day.Lockheed had rallied on Friday when war between Israel and Iran broke out. So, some might be surprised the stock gave back those gains today, given the exchange of bombs and hypersonic missiles over the weekend between the two nations.However, it appears investors believe the war will be contained or over very quickly, thus leading to a "relief" rally in most stocks but a give-back in defense contractors today.Continue reading
Shares of U.S. defense contractor Lockheed Martin (NYSE: LMT) fell 4% on Monday, even as the S&P 500 (SNPINDEX: ^GSPC) was up a strong 0.94% on the day.
Lockheed had rallied on Friday when war between Israel and Iran broke out. So, some might be surprised the stock gave back those gains today, given the exchange of bombs and hypersonic missiles over the weekend between the two nations.
However, it appears investors believe the war will be contained or over very quickly, thus leading to a "relief" rally in most stocks but a give-back in defense contractors today.
